- MeitY is quite active in making a conducive environment for electronics manufacturing
- The agreement aims to create a strong relationship between India and the EU
The Union Cabinet has recently approved the agreement between India and the European Commission on the working relationship on semiconductor ecosystems, its supply chain, and innovation under the EU-India Trade and Technology Council (TTC) framework
The memorandum of understanding (MoU) was signed on November 21 last year.
The agreement aims to create a strong relationship between India and the EU towards enhancing semiconductors for advancing industries and digital technologies.
This contract will be applicable from the date of signature. It may continue until both sides assure that the aim of this instrument has been achieved or until one side discontinues its participation in this instrument.
MeitY is quite active in making a conducive environment for electronics manufacturing.
The programme aims to extend fiscal support for the establishment of Semiconductor Fabs, Display Fabs, Fabs for Compound Semiconductors/Silicon Photonics/Sensors/Discrete Semiconductors and Semiconductor Assembly, Testing, Marking, and Packaging (ATMP)/Outsourced Semiconductor Assembly and Test (OSAT) facilities. Further, the India Semiconductor Mission (ISM) has been made to drive India’s strategies for developing the country’s semiconductor and display manufacturing ecosystem.
MeitY, with its mission to foster international cooperation in the ever-evolving domains of Electronics and Information Technology, has proactively engaged in agreements and partnerships with counterparts from numerous countries. These agreements facilitate bilateral cooperation and information exchange and bolster supply chain resilience, positioning India as a reliable global partner.
In this vein, an important Memorandum of Understanding (MoU) has been inked between India and the European Union (EU). This agreement aims to strengthen bilateral collaboration in the semiconductor sector, leveraging each other’s strengths. This strategic alliance paves the way for mutually beneficial business prospects and solidifies India and the EU’s partnership in the semiconductor industry.
